Top Indian Railway Stocks in India as per Market Cap

Indian Railways operates one of the largest transportation networks in the world, making railway-linked businesses a significant part of India’s listed infrastructure segment. This blog covers listed Indian Railway Stocks as per market capitalization, offering clarity on the types of companies included, the sector’s economic positioning, and the key stock-level characteristics relevant to market participants. The content is intended for readers looking to understand sector-specific companies accessible through a trading account or held via a demat account.

What are Indian Railway Stocks?

Indian Railway Stocks refer to companies that directly or indirectly contribute to the railway ecosystem in India. These may include:

• Public sector undertakings (PSUs) involved in rail operations, infrastructure, and manufacturing

• Private entities that supply components, technology, or logistics to the Indian Railways

• Navratna and Miniratna companies linked to rolling stock, signalling systems, electrification, and more

These stocks often attract investor interest during infrastructure announcements, budget allocations, or plans for new routes, electrification projects, or public-private partnerships.

Railway Industry in India

The Indian Railway Industry is undergoing significant transformation, driven by substantial investments and modernization efforts. In the 2025-26 fiscal year, Indian Railways is expected to receive a capital expenditure increase of 15-20%, potentially exceeding ₹3 lakh crore (approximately $36 billion) to enhance infrastructure, including track expansion and modern train procurement.

Key initiatives include the introduction of 400 new Vande Bharat trains and the development of high-speed rail corridors, which aim to boost capacity and reduce travel times. The government is also focusing on electrification, with a goal of achieving 100% electrification across its network, thereby reducing carbon emissions significantly. The integration of advanced technologies such as artificial intelligence for traffic management and predictive maintenance is set to improve operational efficiency. Additionally, Indian Railways is exploring sustainable energy solutions, including partnerships for nuclear power generation to support its energy needs.

These developments reflect a commitment to enhancing passenger experience while maintaining affordability and accessibility in rail services, positioning Indian Railways as a vital component of India's growth strategy.

What are the Features of Indian Railway Stocks in India?

Indian Railway Stocks possess several distinct features that make them attractive to investors:

• Government Support: Indian railway companies, many of which are public sector undertakings (PSUs), benefit from strong government backing. This includes substantial budget allocations for infrastructure development, electrification, and modernization projects, ensuring steady growth potential.

• Diverse Services: Indian Railway Stocks represent companies involved in various sectors, including passenger services (IRCTC), freight logistics (RVNL), infrastructure development (Ircon International), and financing (IRFC). This diversity provides investors with multiple avenues for investment.

• Long-Term Growth: The Indian railways sector is undergoing significant expansion, with projects like high-speed rail corridors and Vande Bharat trains. These initiatives create long-term investment opportunities due to their extensive timelines and consistent demand for services.

• Dividend Potential: Many railway PSUs offer stable dividends, making them attractive for income-seeking investors. For example, IRFC and RVNL have a history of providing regular payouts.

• Market Performance: Indian Railway Stocks often experience surges due to announcements related to infrastructure projects or budgetary focus on railways. Recent examples include peaks in IRFC and RVNL stock prices following announcements of new trains and coaches.

Top Indian Railway Stocks in India as per Market Capitalisation

The table below lists select railway-related companies in India, ranked by their market capitalisation. These stocks span segments like logistics, rail engineering, and rail wagon manufacturing.

Source: Moneycontrol as of March 22, 2025

Overview of Indian Railway Stocks in India by Market Cap

A snapshot of select railway and railway-linked stocks, ranked in descending order of market capitalisation.

Source: Moneycontrol

Container Corporation of India Ltd. (CONCOR)

Container Corporation of India Ltd. is a government-backed logistics entity involved in container transportation and allied logistics services. Its operations span carrier services, terminal operations, and warehousing. The company has also diversified into air cargo, logistics parks, and supply chain solutions.

Key Financial Metrics and Market Data:

Source: Moneycontrol

Additional Highlights:

• Promoter holding: 54.80% (Dec 2024)

• YTD Performance (2025): -12.48%

• Sector: Ground Freight & Logistics Services

Performance Note: The company has shown mixed price momentum, with a 3-year return of +11.94% but a 1-year decline of -17.86%​.

BEML Ltd.

BEML Ltd. is a public sector company engaged in manufacturing rail coaches, defence equipment, and mining machinery. It serves core industries such as defence, aerospace, power, and mining.

Key Financial Metrics and Market Data:

Source: Moneycontrol

Additional Highlights:

• Promoter holding: 54.03% (Dec 2024)

• 3-Year Return: +79.68%

• Sector: Engineering – Industrial Equipments

Performance Note: The stock is down -31.31% YTD in 2025 despite a healthy long-term growth trajectory and moderate leverage profile​.

Titagarh Rail Systems Ltd.

Titagarh Rail Systems Ltd. manufactures railway wagons, passenger coaches, bridges, and defence-related equipment. It is positioned as a key player in India's rolling stock and railway infrastructure sector.

Key Financial Metrics and Market Data:

Source: Moneycontrol

Additional Highlights:

• Promoter holding: 40.46% (Dec 2024)

• 3-Year Return: +686.07%

• Sector: Railways Wagons

•  

Performance Note: Despite a recent correction, the stock has delivered significant long-term gains. It’s categorized as a high-growth stock with improving financial efficiency​.

Texmaco Rail & Engineering Ltd.

Texmaco Rail & Engineering Ltd. operates in the manufacturing of railway freight cars, hydro-mechanical equipment, and engineering structures. It has a strong presence in both the heavy engineering and steel foundry sectors.

Key Financial Metrics and Market Data:

Source: Moneycontrol

Additional Highlights:

• Promoter holding: 48.14% (Dec 2024)

• 3-Year Return: +286.82%

• Sector: Railways Wagons

Performance Note: The company recently reported a YoY revenue increase of 47.93% for Q3 FY25, indicating a high growth trend but with average financial strength​.

Kernex Microsystems (India) Ltd.

Kernex Microsystems is a tech-based company providing embedded systems and software solutions for railway safety. It specializes in the development and deployment of anti-collision systems and recently secured a major order under the KAVACH railway safety program.

Key Financial Metrics and Market Data:

Source: Moneycontrol

Additional Highlights:

• Promoter holding: 29.08% (Dec 2024)

• 1-Year Return: +33.64%

• Sector: IT Services & Consulting

Performance Note: While recent earnings show a turnaround, the stock trades at a very high valuation with weak financial strength indicators. The stock saw significant traction following large government orders

What Factors Should One Consider Before Investing in Railway Sector Stocks in India?

When considering investments in Indian railway sector stocks, several key factors should be evaluated:

• Government Policy: The Indian government's substantial investments in rail infrastructure significantly affect Indian Railway Stocks. With a target to double the railway network by 2030, companies involved in this sector are likely to benefit from increased demand and funding, positively impacting their stock prices.

• Economic Growth: A rapidly growing Indian economy enhances the potential for railway services, as more people can afford to travel by train. This growth translates into higher demand for Indian Railway Stocks, benefiting companies listed on exchanges like NSE and BSE.

• Competition: While railways face competition from road and air transport, they maintain advantages such as cost-effectiveness and capacity. Emerging technologies, like bullet trains, may further enhance their attractiveness as an investment option.

• Financial Performance: Assessing the financial health of railway companies is crucial. Investors should analyze revenue growth, profitability, and debt levels to gauge potential returns. Stocks with strong financial fundamentals typically present more reliable investment opportunities.

What Factors Influence the Performance of Indian Railway Stocks?

The performance of Indian Railway Stocks is influenced by a variety of factors:

• Government Policies: As a state-owned entity, Indian Railways is heavily impacted by government decisions regarding infrastructure development, budget allocations, and regulatory frameworks. Increased budgetary support for rail projects often leads to a boost in stock prices for companies like IRFC and RVNL.

• Economic Growth: The overall economic environment plays a critical role in shaping demand for both passenger and freight services. Economic expansion typically results in increased industrial activity and higher passenger traffic, positively affecting railway stock performance.

• Technological Advancements: Companies that adopt innovative technologies such as automation, electrification, and digitalization tend to perform better. These advancements enhance operational efficiency and safety, making such companies more attractive to investors.

• Market Conditions: Global economic trends and market volatility can impact investor sentiment towards Indian Railway Stocks. For instance, fluctuations in raw material costs like steel and fuel can affect profit margins, influencing stock performance.

• Demand Trends: Population growth and urbanization drive demand for rail services. An increase in trade volumes also boosts freight services, thereby enhancing revenue potential for railway companies.

Investors should consider these factors to make informed decisions regarding investments in the Indian railway sector.

How do Indian Railway Stocks Work?

Indian Railway Stocks represent companies involved in various aspects of the railway sector, including infrastructure development, passenger services, freight logistics, and financing. These stocks operate within the framework of the Indian economy and government policies, offering unique investment opportunities.

• Ownership and Structure: Many railway companies are Public Sector Undertakings (PSUs), meaning they are government-owned. Examples include Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam Ltd (RVNL), and IRCTC. Their operations are closely tied to government initiatives and funding.

• Revenue Streams: Railway companies generate revenue through diverse channels such as leasing rolling stock (IRFC), catering and tourism services (IRCTC), and freight transport (Container Corporation). This diversification helps mitigate risks associated with economic fluctuations.

• Market Dynamics: Indian Railway Stocks are influenced by factors like government budget allocations, infrastructure projects, economic growth, and technological advancements. For instance, announcements of new trains or electrification projects often lead to stock price surges.

• Investment Appeal: These stocks often offer stable dividends and long-term growth potential due to consistent demand for railway services. They are considered relatively safe investments due to government backing and predictable revenue streams.

Tips for Investing in Railway Industry in India

• Do Your Research: Understanding the business model, financial performance, and competitive landscape of railway companies is essential. Monitoring share price trends can help identify potential investment opportunities

• Consider the Long Term: Indian Railway Stocks are often well suited for long-term investments. Investors should be prepared to hold their investments to benefit from steady growth over time.

• Diversify Your Portfolio: To mitigate risk, diversify your investments across various Indian Railway Stocks. This strategy helps reduce exposure to any single company's performance.

• Rebalance Your Portfolio Regularly: Regularly rebalancing your portfolio ensures it aligns with your risk tolerance and investment goals, helping to manage potential risks effectively.

• Monitor Economic Indicators: Keep an eye on economic growth, population trends, and industrial activities, as these factors significantly influence demand for railway services and stock performance.

• Evaluate Technological Advancements: Assess how companies are embracing innovations like automation and electrification. These advancements can enhance operational efficiency and growth potential.

• Consult Financial Advisors: Before making investment decisions, consider seeking advice from financial professionals to tailor strategies that fit individual investment goals and risk profiles.

How to Pick Indian Railway Stocks

Here are the steps and factors to consider when selecting Indian Railway Stocks:

• Understand the Business Model: Analyze the core business operations of railway companies. For instance, IRCTC specializes in catering, ticketing, and tourism, while IRFC focuses on financing rolling stock and infrastructure projects.

• Assess Financial Metrics: Evaluate key financial indicators such as market capitalization, debt-to-equity ratio, price-to-earnings (P/E) ratio, return on equity (ROE), and dividend yield. For example, IRFC has a P/E ratio of 25.8 and an ROE of 13.7%, while RVNL has a P/E ratio of 40.9 and an ROE of 15.2%.

• Monitor Market Trends: Track share price movements and sector-specific developments like government investments in rail infrastructure or new train launches. Stocks like RVNL often benefit from such announcements.

• Evaluate Growth Potential: Consider technological advancements such as electrification and automation, which can drive efficiency and profitability for railway companies.

• Diversify Investments: Avoid concentrating on a single stock. Invest across multiple companies like IRCTC, RVNL, and Titagarh Rail Systems to reduce risk.

• Check Government Policies: Stay updated on budget allocations, privatization efforts, and infrastructure plans as these heavily influence railway stock performance.

By following these steps, investors can make informed decisions about Indian Railway Stocks.

Who Should Explore Indian Railway Stocks?

Here are the types of investors who may consider exploring Indian Railway Stocks:

• Long-Term Investors: Those looking for steady growth over time can benefit from Indian Railway Stocks, as the sector is supported by government initiatives and long-term infrastructure projects.

• Dividend Seekers: Many railway companies, such as IRFC and RITES, offer stable dividends, making them appealing for income-focused investors.

• Risk-Averse Investors: Indian Railway Stocks, particularly those of government-backed PSUs, are relatively stable due to consistent government support and predictable revenue streams.

• Sector-Specific Enthusiasts: Investors interested in India’s infrastructure development and modernization efforts may find Indian Railway Stocks aligned with their investment goals.

• Portfolio Diversifiers: Those aiming to diversify their portfolio with stocks from a less volatile and essential sector like railways can explore these options.

• Growth-Oriented Investors: With technological advancements like electrification and high-speed trains, Indian Railway Stocks provide opportunities for capital appreciation.

Each investor should carefully evaluate their financial goals and risk tolerance before investing in Indian Railway Stocks.

Why Invest in Indian Railway Stocks?

Here are the reasons why investing in Indian Railway Stocks could be beneficial:

• Government Support: The Indian government consistently allocates significant funds to modernize and expand the railway sector. For example, the Union Budget 2024-25 allocated ₹2.62 lakh crore, the highest-ever budgetary support for railways, ensuring long-term growth for railway companies.

• Economic Expansion: India's growing economy drives increased demand for passenger and freight services. With projected freight growth of 4.1% annually and passenger traffic rising by 9%, Indian Railway Stocks are poised to benefit from this expanding market.

• Technological Advancements: Investments in high-speed trains like Vande Bharat, 100% electrification, and modern safety systems such as the Kavach system enhance operational efficiency and attract investors.

• Diverse Revenue Streams: Companies in this sector operate across various segments, including passenger services (IRCTC), freight logistics (RVNL), and infrastructure financing (IRFC), offering multiple avenues for revenue generation.

• Stable Dividends: Many railway PSUs provide consistent dividend payouts, making them attractive for income-focused investors.

• Infrastructure Growth: Initiatives like station redevelopment under the Amrit Bharat scheme and dedicated freight corridors create long-term opportunities for railway companies.

These factors collectively make Indian Railway Stocks an appealing investment choice.

Should You Invest in Indian Railway Stocks?

Indian Railway Stocks offer unique investment opportunities, but whether you should invest depends on your financial goals and risk appetite. Here’s what you need to consider:

• Growth Potential: The railway sector is undergoing significant modernization, including high-speed rail projects, electrification, and station redevelopment. These initiatives signal long-term growth prospects for railway companies.

• Sector Stability: As an essential service, railways are less prone to demand fluctuations compared to other industries. This stability may appeal to conservative investors.

• Government Dependency: Most railway companies are PSUs, meaning their performance is closely tied to government policies and funding. While this ensures support, it also limits autonomy and introduces regulatory risks.

• Stock Diversity: Indian Railway Stocks span diverse operations—IRCTC (ticketing and tourism), RVNL (infrastructure development), IRFC (financing)—allowing investors to choose based on their preferred business model.

• Market Sentiment: Indian Railway Stocks often see price surges following budget announcements or major project launches. Investors should monitor such developments for strategic entry points.

Investing in Indian Railway Stocks could be suitable for those seeking long-term growth and stability, but careful evaluation of individual companies and sector dynamics is essential.

What are the Risks of Investing in Indian Railway Stocks in India?

• Economic Impact: Railway demand is closely tied to the overall economy. Economic downturns can lead to reduced passenger and freight traffic, negatively affecting revenue and profits for railway companies.

• Policy Changes: Government policies significantly influence the railway sector. Changes in fares, subsidies, or infrastructure plans can directly impact financial performance and investor sentiment.

• Competition: The railway sector faces increasing competition from road and air transport, which can pressure market share and pricing, potentially affecting profitability.

• High Debt Levels: Some railway companies, particularly those involved in infrastructure projects, have high debt levels. This exposes them to interest rate risks and challenges in servicing that debt, which could strain financial stability.

• Cyclical Industry: The railway industry experiences cycles of growth and decline. Investors should align their decisions with industry trends and be prepared for fluctuations in performance.

Understanding these risks helps investors make informed decisions about their investments in Indian Railway Stocks.

What are the Advantages of Investing in Indian Railway Stocks in India?

• Government Support: The Indian government provides substantial funding for railway modernization and expansion, ensuring a supportive environment for growth.

• Economic Expansion: As India's economy grows, so does the demand for both passenger and freight services. This growth potential can enhance revenue for railway companies.

• Technological Advancements: Investments in new technologies, such as high-speed trains and electrification, improve operational efficiency and attract investors seeking growth opportunities.

• Diverse Revenue Streams: Companies in the railway sector operate across various segments, including catering (IRCTC), infrastructure (RVNL), and financing (IRFC), providing multiple avenues for revenue generation.

• Stable Dividends: Many railway PSUs offer consistent dividend payouts, making them appealing for income-focused investors looking for reliable returns.

• Infrastructure Growth: Ongoing infrastructure projects enhance connectivity and efficiency within the sector, creating long-term opportunities for growth and profitability.

These advantages position Indian Railway Stocks as a potentially smart investment choice.

Who Can Invest in Indian Railway Stocks?

• Long-Term Investors: The railway stock market provides ideal conditions for long-term investors who want to experience steady growth because government-backed modernization and infrastructure projects support these stocks.

• Dividend Seekers: The railway PSUs IRFC and RITES, along with others, provide stable dividends which attract investors who focus on dividend income.

• Risk-Averse Investors: Conservative investors opt for Indian Railway Stocks because they show low risk potential due to their reliable revenue pattern and public institutional backing.

• Sector Enthusiasts: Indian infrastructure development through railways appeals to investors who focus on this sector.

• Growth-Oriented Investors: Capital growth opportunities can be found by growth-oriented investors through technological developments such as electrification systems and high-speed train installations..

Is Investing in Indian Railway Stocks Risky?

• Economic Sensitivity: The economic state of the country determines railway demand levels because poor economic performance leads to reduced passenger and freight volumes which hurts revenue generation.

• Policy Risks: Government regulations together with fare changes and subsidy modifications create direct risks for company performance.

• Debt Levels: IRFC, for instance demonstrates high debt-to-equity ratios (7.83) which makes the company vulnerable to interest rate fluctuations.

• Competition: Railways face increasing competition from roadways and air travel, which can pressure market share and profitability.

• Market Volatility: Stock price volatility occurs due to worldwide events along with economic slowdowns which create investment uncertainty.

How to Invest in Indian Railway Stocks

• Open Demat Account: Create a Demat account through a brokerage platform to hold shares electronically.

• Research Companies: Analyze financial metrics such as market cap, P/E ratio, ROE, and dividend yield for top Indian Railway Stocks like IRCTC, RVNL, and IRFC.

• Choose Brokerage Platforms: Use trading apps or brokerage platforms to buy Indian Railway Stocks listed on NSE/BSE.

• Monitor Sector Trends: Stay updated on government policies, infrastructure projects, and technological advancements that influence stock performance.

• Diversify Portfolio: Invest across multiple railway companies to reduce risk exposure while capturing sector-wide growth potential.

What is the Impact of Government Policies on Indian Railway Stocks?

• Government policies act as essential drivers which determine the performance of Indian Railway Stocks operating in India:

• Policy Continuity: The decision to keep Ashwini Vaishnaw as Railway Minister for 2025 establishes ongoing infrastructure policies which enhances investor trust in Indian Railway Stocks. The announcement of Ashwini Vaishnaw as Railway Minister caused IRCTC stock to rise by 2% and IRCON and RVNL stocks to jump by 3% and 6% respectively.

• Budget Allocations: The government allocated ₹2.62 lakh crore for railway capital spending through the Union Budget 2025-26 which became the highest amount in Indian railway history. The allocated funds enable railway companies to achieve high-speed rail corridor development and rail electrification projects.

• Strategic Initiatives: The PM Gati Shakti program and Make in India initiative support logistics efficiency and domestic manufacturing thus generating new business opportunities for RITES and Titagarh Rail Systems.

How Indian Railway Stocks Perform in Economic Downturns

Indian Railway Stocks maintain some protection from economic downturns because their essential functions carry forward yet they still face business complications:

• Resilient Demand: Railway passenger travel continues to be steady because trains provide an affordable transportation option. Reductions in industrial operations result in a potential decline of freight services.

• Government Support: The economy receives support through governmental funding of infrastructure projects when markets experience downturns. Government support enables stabilization of railway stock performance levels.

• Profit Margins: High operating ratios at Indian Railways create financial pressure during economic downturns that affects stock market value.

Indian Railway Sector Highlights from Union Budget 2025-2026

The Union Budget 2025-26 brought in several vital announcements which include:

• Record Capital Outlay: ₹2.62 lakh crore allocated to railways for modernization and expansion projects, including electrification and high-speed rail corridors.

• New Rolling Stock: Contracts for 400 Vande Bharat trains and 800 electric freight locomotives were announced, worth ₹1.2 lakh crore over eight years.

• Freight Corridors: The PM Gati Shakti expansion initiative seeks to enhance freight corridor operations which will decrease costs and improve efficiency thus benefiting freight companies such as RVNL.

Future Trends and Opportunities of Investing in Indian Railway Stocks

Indian railway sector stands at the threshold of substantial growth which generates various investment possibilities:

• Infrastructure Development: The introduction of semi-high-speed Vande Bharat trains together with the upgrade of 40,000 rail bogies will improve railway services which will drive investors toward companies working on these projects.

• Dedicated Freight Corridors (DFCs): Development of Dedicated Freight Corridors as part of the railway strategy will boost logistics operations and freight activities in the sector through its target of raising freight share from 27% to 45% by 2030.

• Technological Innovations: IRCTC demonstrates customer-oriented development through its e-catering services and cloud kitchens initiatives which create new revenue opportunities.

• Government Initiatives: The continued support of government initiatives under PM Gati Shakti together with strategic programs will likely enhance railway logistics and improve connectivity which will positively impact railway-related stock performance.

What is the GDP Contribution of Indian Railway Sector Stocks?

The Indian railway sector significantly contributes to the GDP through its extensive network and services:

• Economic Role: The railways function as a fundamental transportation framework within India by helping both trade operations and passenger transportation to drive economic growth.

• Revenue Generation: TheThe revenue projection for 2025-26 estimates ₹3,02,100 crore which primarily comes from freight services demonstrating its substantial contribution to national income.

What is the Future of Indian Railway Stocks?

The future of Indian Railway Stocks appears promising due to several factors:

• Modernization Plans: The government's commitment to modernizing the railway infrastructure, including high-speed corridors and electrification, positions Indian Railway Stocks for long-term growth.

• Increased Investment: The railway sector will benefit from increased profitability when companies receive substantial budget funding for service improvements and capacity expansion.

• Rising Demand: As urbanization continues and economic growth accelerates, demand for both passenger and freight services is expected to rise, driving revenue for railway companies.

• Sustainability Focus: Initiatives aimed at increasing electrification and reducing carbon emissions will likely attract environmentally conscious investors looking for sustainable investment opportunities.

These trends suggest that investing in Indian Railway Stocks could yield significant returns as the sector evolves.

Why is It Worth Buying Indian Railway Stocks Now?

Investing in Indian Railway Stocks now could potentially be a solid move for the following reasons:

● Government Focus on Infrastructure: The Indian government continues to enhance its railway budget spending by allocating ₹2.62 lakh crore for 2025-26 which represents the highest amount in railway history. The government funding enables railway modernization work and infrastructure expansion that provides growth potential for railway companies.

● Growing Demand: The railway service demand will increase due to semi-high-speed Vande Bharat train deployments and Dedicated Freight Corridor (DFC) developments thus creating growth opportunities for participating companies.

● Technological Advancements: Investors find Indian Railway Stocks increasingly appealing thanks to technological advances that brought e-catering services as well as better passenger safety together with improved comfort which enhances both customer experience and operational efficiency.

● Long-Term Growth Potential: Listed companies including IRCTC and RVNL can expect rising revenues because ongoing infrastructure work along with growing freight capabilities create enduring expansion opportunities for the railway sector.

● Stable Dividends: Many railway companies offer regular dividends, providing a steady income stream for investors. This makes them appealing for those seeking both growth and income.

Conclusion

Investing in Indian Railway Stocks can be a strategic move given the sector's robust growth potential driven by government support, increasing demand, and technological advancements. The substantial budget allocations for infrastructure development signal a commitment to modernizing the railway system, which is likely to benefit investors in the long run. However, potential investors should conduct thorough research on individual companies, considering factors such as financial performance and market conditions, to make informed investment decisions. With the right approach, investing in this sector could yield significant returns as India continues to enhance its railway infrastructure.

Other Popular Indian Railway Stocks in India

Here are five notable railway-related companies in India:

1. Indian Railway Finance Corporation Ltd. (IRFC): Specializes in financing the acquisition of rolling stock and railway infrastructure for the Indian Railways.

2. Rail Vikas Nigam Ltd. (RVNL): Focuses on the implementation of railway infrastructure projects, including the construction of new lines, bridges, and electrification projects.

3. Indian Railway Catering and Tourism Corporation Ltd. (IRCTC): Manages catering, tourism, and online ticketing operations for the Indian Railways.

4. RailTel Corporation of India Ltd.: Provides broadband and VPN services, leveraging its extensive fiber-optic network along railway tracks. ​

5. Ircon International Ltd.: Engages in engineering and construction, specializing in transport infrastructure projects, including railways, highways, and bridges. ​

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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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